Africa’s Global Bank, United Bank for Africa (UBA) Plc demonstrated its commitment to fostering peace and stability across Africa with a landmark donation of $500,000 to the African Union (AU) Peace Fund.

This donation by the UBA Group supports the AU’s efforts towards promoting security, conflict resolution, sustainable development, and a unified Africa, as envisioned in the AU’s Africa Agenda 2063.

The AU Peace Fund plays a crucial role in financing mediation and preventive diplomacy efforts across Africa, strengthening institutional capacity and ensuring rapid responses to emerging conflicts. UBA’s support underscores its dedication to the collective progress of African nations, reinforcing the UBA Group’s long-standing belief that economic growth and regional stability go hand in hand.

The Chairman of the Executive Management Committee AU Peace Fund; H.E Moussa Faki Mahamat stated that “peace is synonymous with resources, if we want development and stability, we must achieve peace, the United Bank for Africa has demonstrated their commitment to the development of our continent by this commitment, through sustainable resources. Together, we will continue to build a continent for the future.

UBA’s Group Chairman, Mr. Tony Elumelu, who announced the donation in Addis Ababa, Ethiopia, highlighted the reasons behind the UBA Group’s support to the AU.

Elumelu explained the requirement that corporate institutions shape Africa’s future cannot be over-emphasised, and by investing in peace and security, UBA is contributing to an environment where businesses, communities, and nations can thrive, driving sustainable development and economic prosperity for all.

“UBA is committed to advancing sustainable development, uplifting the quality of life across Africa and the vital connection between economic growth for Africans and African businesses and the stability provided by peace and security,” Elumelu said.

With presence in over 20 countries in Africa, UBA strongly believes in the continent’s potential, as he added that “Development will come with peace, and every individual, organisation and business should be committed towards achieving this.”

The UBA Chairman took time to commend the African Union for its steadfast dedication to promoting peace and security across Africa, saying that UBA Group is honoured to partner with the AU in this noble endeavour, while seeking deeper collaboration between the two institutions.

Over the years, UBA Group’s commitment to the growth and stability of the continent has been unwavering, including the UBA Foundation’s contribution of $14m to catalyse a comprehensive Pan-African response to the fight against the coronavirus (COVID-19) global pandemic.

The donation provided significant and much needed support to Nigeria and 19 other African countries by supplying relief materials, critical care facilities, and financial support to governments.

The African Union Peace Fund (AUPF) is a financial mechanism established by the African Union to support peace and security initiatives across the continent, primarily focused on conflict prevention, mediation, and peace-building operations through funding allocated to various peace support activities across Africa, including institutional capacity building and peace support operations; it is considered a key pillar of the African Peace and Security Architecture (APSA).

Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology. United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 45 million customers globally.

President Bola Tinubu extends warm congratulations to Azubuike Ishiekwene, Managing Director/Editor-in-Chief of The Interview, on his 60th birthday.

A Fellow of the Nigerian Guild of Editors (NGE), Azu as he is fondly known, has had a distinguished career in journalism spanning over three decades.

He has worked with several reputable media organisations, including The Punch, where he was a columnist and editorial board member; ThisDay as Editor and later the Deputy Managing Director; and Leadership, where he currently serves as the Group Managing Director.

President Tinubu appreciates Ishiekwene's brilliant and incisive commentary and analysis on Nigeria's politics, the economy, and society.

He notes that his insightful contributions and recent writings on digital media have earned him wide recognition and admiration, even from those who may not readily agree with his views.

Commending his contributions to developing the Nigerian media landscape, the President trusts that the dawn of a new age will bring more fantastic inspiration and wisdom.

He prays God almighty to grant the journalist good health and fulfilment in all his endeavours.

Bayo Onanuga
Special Adviser to the President
(Information & Strategy)

I arrived in Abuja with my friend Jeff Okoli at about 8 p.m. on the last night of NYSC registration. We arrived at Kubwa camp for registration barely two hours before closing time. With just ₦20 in my pocket—my last card, as they say—I stepped into Kubwa camp with a cloud of uncertainty about how I would survive. I looked around the NYSC camp and decided there was no going back. This was my dream, and I had made it this far. Our chief host host in the capital was General Jeremiah Useni, who was then Minister of the FCT.

I arrived in Abuja, my dream NYSC location (I was posted to Abuja without any man know man) full of hope. My hope was to be a public servant, and my ambition was to retire as a Permanent Secretary. Fueled by this ambition, I started inquiring about how to join the public service. I learnt that Gen Abacha, then Head of State, had placed an embargo on employment. Undeterred, I made further enquiries and learnt of a small window; the NYSC Award led to automatic employment.

I became obsessed with the goal. If the NYSC Award was the only guaranteed way into public service, I would earn it. There were no shortcuts, no favours—just sheer determination.

I launched my personal Community Development Service (CDS) project, the Campaign for Exam Ethics. I mobilised my fellow Corps members, and together, we went from school to school, speaking against exam malpractice, staging plays, and instilling a culture of integrity in young minds.

There were no weekend getaways and no time for travel. While others left Abuja to visit home, I stayed back, laser-focused. I did not miss a single day of my CDS work.

I wrote letters to many agencies to sponsor a conference on examination ethics and received numerous rejections. I persisted. Some days, exhaustion gnawed at me. The Abuja sun was unforgiving, and transport costs for my drama crew and me were a constant challenge. But every morning, I rose, dusted myself off, and marched to yet another school, determined to spread the message of examination and personal integrity.

I lost count of how many times I was turned away. Secretaries gave me tired glances, some agencies didn’t even open my letters. But after every rejection, I allowed myself only a minute of disappointment, squared my shoulders, and knocked on the next door. I had a dream too strong to be buried by rejection.

On one of my routine visits to the agencies to check if I had any luck, the Secretary of the Director General of the National Orientation Agency told me the DG had sent my letter to a department and that I should follow up. I did.

After one month of daily visits and sometimes trekking from the Area 1 Federal Secretariat to my Aunty’s residence, the DG approved ₦25,000 for the conference. Prof Elochukwu Amucheazi approved it without meeting me and sent a director to represent the agency.

The conference, which had JAMB and WAEC staff, principals, and teachers present, was a huge success. It was made possible by a woman I only met once and pitched the idea to—Ms Agatha Chukwueke, then a senior staff member of Sheraton Abuja, now Mrs Nnaji, wife of Prof Barth Nnaji. She facilitated the donation of a section of Ladi Kwali Hall by Sheraton Hotel Abuja for the conference free of charge.

At my place of primary assignment—the Office of the Secretary to the Government of the Federation (SGF)—I didn’t just do my job; I made myself indispensable. Every day, after finishing my duties in the personnel department, I would go upstairs to Dr. Babangida Aliyu, the Special Assistant to the SGF, and ask:

“Is there anything I can do?”

Dr. Aliyu would later become a Permanent Secretary and Governor of Niger State. His career trajectory fascinated me. More than that, his Ph.D. from the University of Pittsburgh gave him a certain swag and confidence that I admired. I didn’t just want to rise in the civil service—I wanted to do it with substance.

At the end of my NYSC year, Dr. Aliyu wrote a glowing commendation letter to NYSC, acknowledging my contributions as a speechwriter and my willingness to take on extra assignments. That letter became part of my arsenal as I approached the defining moment of my service year.

In the end, I was one of the winners of the NYSC Award in Abuja. Then, another hurdle. The NYSC FCT Director told us that automatic employment would only happen if the FCT(Abuja) Minister, General Useni, attended the Passing out Parade. Those who won the award in the past two years were not automatically employed because the Minister Useni did not attend. I was taken aback and disappointed that no one said this part.

I wondered what trajectory my life would take as I had nobody to give me a note to the military men of power in Abuja. My fear heightened as I recalled that all my applications to federal parastatals and the Federal Civil Service Commission had not elicited an acknowledgement or reply.

I had no influential uncle or godfather. My only plan B was to return to journalism—back to The Guardian, where I had interned during university breaks and ASUU strikes.

The night before, sleep eluded me. My dream of serving in the civil service hung on a thread, dependent on whether a man I had never met would show up. Would my hard work be rewarded, or would I walk away with nothing but memories?

All these thoughts filled my head as I arrived at Area 10 Old Parade Ground, Abuja, for the Passing Out Parade in the Harmattan haze of November 1996.

Gen J T Useni arrived at the parade ground at 10 a.m. My fear gave way to renewed optimism as I marched to Dais to receive my first Ministerial Handshake and certificate of award. After the ceremonies, he announced automatic employment. My one year of hard work paid off. My dream was validated, and my ambition to become a Permanent Secretary one day appeared to be on course.

Interestingly, nobody from Plateau state (where General Useni hailed from) or child of a General was among the award winners, we were all ‘plebians’ hustling for survival in a harsh environment. He simply rewarded hard work and commitment.

That was the first day I saw General Useni in person, and I thought it would be the last. As I walked off that parade ground, I thought my story had reached its climax. Little did I know, this was only the beginning of a journey. What happened next would change the course of my life in ways I never saw coming… Watch out for Part 2.

Osita Chidoka

This significant increase, up from ₦4.88 trillion in December 2024, represents a ₦1.22 trillion rise from the ₦3.65 trillion reported in January 2024.

Analysts attribute the rise to sustained printing of the local currency by the CBN and the escalating inflation rate in the country.

The surge also reflects growing public distrust in the banking system, with many Nigerians opting for cash transactions amid economic uncertainty.

When CBN Governor Olayemi Cardoso assumed office in September 2023, currency in circulation stood at ₦2.76 trillion.

Despite the increase in currency circulation, Nigeria’s economic growth remains sluggish, with the 2024 growth rate projected at 2.9% to 3.1%, one of the slowest in West Africa.

In response to inflationary pressures, the CBN’s Monetary Policy Committee (MPC) raised the Monetary Policy Rate (MPR) to a record 27.25%, signaling a strong monetary tightening stance aimed at stabilizing the economy.

Analysts believe the rise in currency circulation indicates increased government spending to mitigate economic hardship, which has fueled inflation.

Vice President of Highcap Securities Limited, David Adnori, noted that increased government spending injects more money into the economy, leading to higher inflation due to the economic trade-off between money supply and price stability.

[NaijaNews]

Nigeria’s transport sector is set for a revolution as the Lagos-Abuja High-Speed Bullet Train gains momentum, reducing travel time between both cities from 12 hours to just 2–3 hours.

The Director of Operations at Geofocus Consortium, Engineer Yinka Idris, in a statement made available to journalists on Tuesday, described the project as a milestone in Nigeria’s development.

Idris lauded President Bola Tinubu’s administration for prioritising infrastructure and fostering Public-Private Partnerships (PPP) to drive economic growth.

According to Idris, the bullet train will provide a faster, safer, and more efficient alternative to road travel.

Idris said that the initiative aligned with Tinubu’s vision of leveraging private sector expertise to deliver world-class infrastructure without overburdening public finances.

“Currently, travelers between Lagos and Abuja face long hours in traffic, safety concerns, and reduced productivity,” he said.

He said that the project would significantly ease movement, enhance trade, and improve the overall business environment.

“As part of the development, ten smart cities with 10,000 housing units each will be built along the rail corridor.

“An independent power plant will also be constructed to support the train and surrounding infrastructure,” he said.

Idris said that the Lagos-Abuja bullet train is expected to create thousands of jobs during construction and after completion.

He said that the initiative aligned with Tinubu’s commitment to reducing unemployment and fostering economic prosperity through major infrastructure projects.

“With feasibility studies completed and proof of funds secured, the project now awaits approvals from the Infrastructure Concession Regulatory Commission (ICRC) and the Federal Executive Council (FEC) before construction begins,” he said.

Idris said that the construction phase is expected to last between 48 and 52 months.

He said its completion would promote the project as Nigeria’s largest-ever PPP-driven initiative and a benchmark for transport infrastructure across Africa.

Beyond transportation, Idris said the bullet train would reduce road congestion, lower carbon emissions, and extend the lifespan of highways.

He said that such would represent a major step toward sustainable and environmentally friendly infrastructure development.

“As Nigeria moves closer to realizing this dream, citizens can anticipate a future of seamless travel, improved quality of life, and enhanced economic opportunities under President Tinubu’s leadership,” he added.

[Leadership]

The Nigerian Army has set up a General Court Martial for the trial of five officers and 20 soldiers for different offences in the jurisdiction of 82 Division of the Nigerian Army in Enugu State.

Inaugurating the court martial, President of the General Court Martial (GCM), Brig.-Gen. Buhari Sadisu, said that the court martial was convened by the General Officer Commanding (GOC) 82 Division, Maj.-Gen. Oluyemi Olatoye.

Sadisu said that it was pertinent to note that, “Court Martial is one of the instruments used in the Armed Forces to maintain discipline.”

He said, “In Court Martial, military personnel alleged to have committed offences known to laws applicable to them are tried and if found guilty, punished in accordance to the laws criminalising such offences.

“However, where the prosecution failed to establish the allegations against them, the Court will discharge and acquit the accused personnel.

“For the accused personnel present for today’s inauguration, let me assure you that this Court Martial will be guided throughout the trial by the principles of natural justice and fair hearing.

“It will also be guided by the Constitution of the Federal Republic of Nigeria 1999 (as amended) and other extant laws and procedures related to your trial.”

The President said that the Court Martial would be free from any external influence and would afford the personnel accused adequate time and facility to defend themselves.

He noted that the court martial was fully aware of the cardinal principle of the criminal justice system that an accused person is presumed innocent until the contrary is proven.

“Under our criminal justice system, it is better for 99 guilty persons to be set free than for one innocent person to be convicted.

“Accordingly, I hereby assure you that the Court Martial will strive to do justice in your cases by ensuring that evidence presented before her are judiciously and fairly evaluated.

“This is in order to avoid a situation where an innocent person is made to suffer unjustly,” he said.

The Court Martial has the same power and concurrent mandate as the Federal and State High Courts as its decisions can only be challenged at the Court of Appeal.

[Leadership]

Oil mogul and billionaire Businessman, Alhaji Aliko Dangote, has opened up on his determination to see his $23bn refinery succeed despite all odds.

The 650,000 barrels per day capacity is Africa’s largest.

According to the Kano-born richest black man on earth, “I’ve been fighting battles all my life and I have not lost one yet.

His comment is seen as a pointer to the struggles he had faced from the government and oil mafia since the project came on stream.

At an investment conference last year, Dangote also lamented about the oil mafia, saying, “I knew there would be a fight. But I didn’t know that the mafia in oil, they are stronger than the mafia in drugs.”

Speaking exclusively with Forbes on Monday, Dangote opened up about the risk he faced completing the ambitious project despite obstacles from regulators and marketers.

He said he would have been finished if the projects failed.

He described Refinery project as the “biggest risk” of his life yet

He said: “It was the biggest risk of my life. If this didn’t work, I was dead.”

He revealed that the journey to completion was fraught with uncertainties.

However, despite hurdles faced in financing the project, the regulatory challenges, and securing suppliers, Dangote said he is committed to providing a blueprint for industrialisation across Africa.

“We have to build our own nation by ourselves. We have to build our own continent by ourselves, not [rely on] foreign investment”, he noted.

He added that Africa has been “a mere dumping ground for finished products,” and his refinery represents “a pivotal step in ensuring that Africa has the capacity to refine its own crude oil.

This, he added, will create wealth and prosperity for its vast population.

According to the Forbes report, despite establishing a family office in Dubai and involving his three daughters in various roles within the family business, his focus remains firmly on Nigeria.

He continues to dedicate much of his time to the refinery, regularly meeting with engineers and managers to oversee progress.

Dangote is also working on other ambitious projects such as building a subsea pipeline to transport natural gas from the Niger Delta to Lagos and expanding the capacity of the refinery’s fertiliser plant.

Looking ahead, he said he plans to take the refinery public within the next year or two.

“I’ve been fighting battles all my life and I have not lost one yet,” he said.

[DailyTrust]

Nigeria’s inflation rate dropped massively to 24.48 percent in January 2024 from 34.80 percent in December last year after the rebased Consumer Price Index.
The Statistician General, Prince Adeyemi Adeniran, disclosed this on Tuesday in Abuja at the launch of the rebased CPI report.

Nigeria’s inflation rose to 34.80 percent in January 2025 compared to 34.80 percent recorded in December last year.
The National Bureau of Statistics disclosed its rebased Consumer Price Index for January released on Monday.

He said the Consumer Price Index (CPI) – which measures the rate of change in prices of goods and commodities – has declined to 24.48 per cent year on year in January.

Adeniran explained that urban inflation stood at 26.09 percent while rural inflation came to 22.15 percent.

Accordingly, the report, food inflation declined to 26.08 percent in January, from 39.84 percent in December 2024.

In a statement on the X account, NBS said, “The National Bureau of Statistics has released the rebased Consumer Price Index (CPI), reflecting an updated price reference period (base year) of 2024 and a weight reference period of 2023.

“Nigeria’s inflation rate for January 2024 stood at 24.48 percent year on year.

“The food inflation rate stood at 26.08 percent; the core inflation rate stood at 22.59 percent; the urban inflation rate stood at 26.09 percent; and the rural inflation rate stood at 22.15 percent “.

This comes as the Central Bank of Nigeria Monetary Policy Committee would hold its first meeting in 2025 on February 19 and 20, 2025.

In November 2024, MPC raised interest to 27.50 percent to bring down inflation.

[DailyPost]

The Oyo State chapter of the Nigeria Labour Congress brought operations at the Ibadan Electricity Distribution Company to a standstill on Tuesday, staging a massive protest over the recent dismissal of over 3,000 employees.

Led by its Chairman, Kayode Martin, the union members barricaded the entrance to the IBEDC office, shutting down the facility and causing traffic disruption in the Challenge to Dugbe area of Ibadan.

The protesters, chanting solidarity songs, demanded the immediate reinstatement of the sacked workers and the payment of the national minimum wage.

Martin condemned the actions of outsourcing agents associated with IBEDC, accusing them of exploiting workers through unpaid minimum wages and unexplained salary deductions.

“We are here today to express our total displeasure over the unjust and inhumane treatment of workers by IBEDC and their outsourcing agents.

“Over 3,000 workers have been thrown into the unemployment market without any justifiable reason. These are people who have dedicated their time and energy to this company, and they are now being treated like disposable items,” Martin said.

The NLC Chairman also highlighted the issue of unpaid minimum wage and the alleged exploitation of workers by outsourcing companies.

“These outsourcing agents are not only refusing to pay the minimum wage, but they are also making arbitrary deductions from the meagre salaries of the workers. This is unacceptable, and we will not stand for it,” he asserted.

The union presented a list of seven key demands to the IBEDC management, including: “Implementation of the new minimum wage, prompt payment of Retirement Savings Account (RSA) backlogs, regularisation of outsourced staff, an end to the denial of union membership for staff, provision of adequate and standard healthcare services, payment of all outstanding allowances and compensations.”

Martin appealed to Oyo State Governor, Seyi Makinde, and other stakeholders to intervene in the matter, warning that the mass dismissal of workers could have serious security implications for the state.

“We are calling on Governor Makinde and other well-meaning Nigerians to come to our aid. The rate of unemployment in the country is already alarming, and further adding to it will only create more problems, including security challenges,” he cautioned.

The NLC chairman urged the IBEDC management to engage in dialogue with the union to find an amicable resolution to the issues before the situation escalates.

“We are not here to cause trouble, but we are determined to fight for the rights of our members. We are ready for dialogue, but we will not back down until our demands are met,” Martin stated.

The protest caused significant traffic congestion in the area, leaving many commuters stranded.

As of the time of this report, the IBEDC management had yet to issue a formal response to the NLC’s demands.

[Punch]